General Railroad Laws of the State of Pennsylvania And Acts Relative to Corporat
General Railroad Laws of the State of Pennsylvania And Acts Relative to Corporat
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L. , 1869, pages 24 and 25. ) SECTION i. That whenever any merger of the corporate rights, powers, and franchises of a railroad company shal hereafter be made into any other railroad company, undei authority of the act relating to railroad companies, approvec May sixteenth, Anno Domini one thousand eight hundred and sixty-one, it shall and may be lawful for said companies to specify in the joint agreement for such consolidatior and merger what corporate rights, powers, obligations duties, and f...ranchises created by the charter, or existing under or in pursuance of or by force of any act of assembly relating to either of said companies, shall be transferred to or become vested in or shall continue in the company into which said merger is made; and the said consolidated company shall be subject to and be regulated and governed only by the corporate rights, powers, duties, obligations, and franchises so specified in and vested by said agreement; and upon the filing of the same in the office of the secretary of the Commonwealth, it shall thereupon be deemed and taken to be its act of incorporation for all purposes whatsoever: Provided, however, That the consolidated company so formed shall not acquire by said agreement any powers, franchises, or privileges that were not theretofore granted to them, or either of them, by law; and due notice of any such merger shall first be given, by publication, to the stockholders of the respective companies, i6 9 and shall not be valid or effective until ratified or approved by them, as required by said act of May sixteenth, Anno Domini one thousand eight hundred and sixty-one ; and all laws and parts of laws inconsistent with this act, and with the corporate and other rights which may be defined in and acquired under any agreement of consolidation or merger made in pursuance hereof, be and the same are hereby repealed.
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To quickly assess the difficulty of the text, read a short excerpt:
L. , 1869, pages 24 and 25. ) SECTION i. That whenever any merger of the corporate rights, powers, and franchises of a railroad company shal hereafter be made into any other railroad company, undei authority of the act relating to railroad companies, approvec May sixteenth, Anno Domini one thousand eight hundred and sixty-one, it shall and may be lawful for said companies to specify in the joint agreement for such consolidatior and merger what corporate rights, powers, obligations duties, and f...ranchises created by the charter, or existing under or in pursuance of or by force of any act of assembly relating to either of said companies, shall be transferred to or become vested in or shall continue in the company into which said merger is made; and the said consolidated company shall be subject to and be regulated and governed only by the corporate rights, powers, duties, obligations, and franchises so specified in and vested by said agreement; and upon the filing of the same in the office of the secretary of the Commonwealth, it shall thereupon be deemed and taken to be its act of incorporation for all purposes whatsoever: Provided, however, That the consolidated company so formed shall not acquire by said agreement any powers, franchises, or privileges that were not theretofore granted to them, or either of them, by law; and due notice of any such merger shall first be given, by publication, to the stockholders of the respective companies, i6 9 and shall not be valid or effective until ratified or approved by them, as required by said act of May sixteenth, Anno Domini one thousand eight hundred and sixty-one ; and all laws and parts of laws inconsistent with this act, and with the corporate and other rights which may be defined in and acquired under any agreement of consolidation or merger made in pursuance hereof, be and the same are hereby repealed.
What to read after General Railroad Laws of the State of Pennsylvania And Acts Relative to Corporat?
You can find similar books in the "Read Also" column, or choose other free books by Pennsylvania to read onlineMoreLess
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